Chain store sales gained 1.3% in the week ended March 3, after a 1.0% decrease the week before, according to the International Council of Shopping Centers and Goldman Sachs weekly chain store sales index released Tuesday.
Year over year, retail sales slowed to a 1.7% rise, its weakest pace in more than a year.
“Sales were mixed over the past week as sales recovered from the prior week’s dip, but softened appreciably on a year-over-year basis,” according to Michael Niemira, ICSC vice president of research and chief economist.
“There are a fair amount of cross currents at play in March, with the improving economy helping to sustain some spending, but rising gasoline prices increasingly curbing the degree of discretionary spending,” he said.
